HB Wealth Management LLC Trims Position in NIKE, Inc. (NYSE:NKE)

HB Wealth Management LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 41.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,083 shares of the footwear maker’s stock after selling 30,275 shares during the period. HB Wealth Management LLC’s holdings in NIKE were worth $3,184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE in the 3rd quarter valued at about $30,000. VitalStone Financial LLC raised its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Dunhill Financial LLC raised its holdings in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the period. Ecofi Investissements SA purchased a new stake in NIKE in the 2nd quarter valued at about $49,000. Finally, Riverview Trust Co purchased a new stake in NIKE in the 3rd quarter valued at about $52,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NKE shares. Barclays reduced their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Morgan Stanley dropped their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Telsey Advisory Group downgraded NIKE from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Finally, Evercore ISI dropped their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.96.

NIKE Price Performance

Shares of NYSE NKE opened at $70.89 on Monday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The stock has a 50 day moving average of $75.77 and a two-hundred day moving average of $77.94. The stock has a market cap of $104.85 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 49.38%.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.